Denver drivers can expect gas prices to continue dropping

Howard Pankratz --- Denver Post

The average cost of a gallon of gasoline in Denver fell 11.3 cents last week averaging $2.53 on Sunday, 45.8 cents a gallon lower than a year ago.

According to Patrick DeHaan, senior petroleum analyst, as of Sunday evening Colorado was one of 13 states that saw at least one station at $1.99 or less.

That station, said DeHaan, was Hi-Test Elbert in Elbert which was at $1.99.

DeHaan said that motorists are saving $270 million every day versus pump prices a year ago.

"Colorado prices will continue to drop in the next 1 to 2 weeks," said DeHaan, "still waiting for oil prices to find a new floor."

"Until that happens, gas prices will continue to crumble," said DeHaan, noting that oil prices briefly touched on $56.90 a barrel Monday morning.

As of midday Sunday, all 48 lower U.S. states saw averages under $3 a gallon, with New York being the last of the lower 48 to join.

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